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Below is an Interesting article I found, which says that.....Do not
5 a6 r; W7 t3 h% H0 u( Oexpect much from Crude Oil producers and future is not with the ) W; f$ `6 v# U$ g2 }( y% r P
companies producing Jet fuels but Biofuels. Also no wonder if some of
4 x6 P$ w$ z% V$ }# s. a. Xthese oil producer will go bankrupt or out of the business even if
' E5 E5 a; h/ ^crude prices improves. This implies also to good names such as Shell,
3 T3 ]+ p* Z2 l$ d1 OEXXON, BG, BP, Cheveron ....xyz.. oils / S/ Q1 J& }; H6 }0 Z
$ w& }9 W" f9 N8 i$ k7 WRecently OPEC reduced crude oil production twice over just a few
: ^6 z% q$ l4 g7 `5 zmonths. There are three wars going on in Gaza, Iraq and Afghandistan.
8 J! w# f9 r* GA year ago these things would have spiked the price of crude oil by at . W0 y6 w) {- M4 A+ r5 R
least $50.00 per barrel. Today, oil price declined by a record amount. 7 p8 z3 H$ v+ @, e4 n' W: M
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( m( o8 @& m2 v0 xThere are several reasons the price of oil is decreasing in the face
3 T. [2 ~+ t7 W0 y zof so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and
' e# N8 m! r. X# D6 pin the ocean near Brazil. Each of these oil fields has more oil than
$ W; G" j5 o1 v4 zArabia.
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2. New natural gas has been found in Pennsylvania and West Virginia.
' }6 r$ \* h, G6 @1 C9 ~ \& {- Q% WThis is the largest find in North America. 7 K1 ]2 ]) d/ v( r1 L) `
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3. New methods of injecting CO2 and surfactants into oil wells is
6 a1 E* Q0 i1 H0 k. C6 ]being used to double their output. - R% b/ Z' c* S( {3 b1 ~
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5 Q& ?1 H& r, J& m4 H7 Q7 c1 l4. Production of bio-fuels is beginning to reach critical mass. Bio
5 H8 V0 x2 r0 K9 l& ?' G+ Efuel is being produced from many plants and algae. The production
+ \5 K+ i" B' ~7 R4 gpotential per acre in some cases is astounding. Many countries are - \6 E0 s0 \6 p; t
racing to produce bio fuels. # K5 _+ A0 `; I) i+ V
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5. Virtually every restaurant in the US and all food processing plants
8 e+ x: {" ~( G0 O/ Rare now selling their used oil to bio-diesel producers. Every pork,
$ s. g' o# T& _. V# Pcattle, turkey and chicken processing plant will soon sell their fat 9 m; i4 |' Q% z$ |- C* v
to bio-diesel producers. One pork processing plant in Oklahoma is - J3 F- R( }1 A5 f
producing 30,000 gallons of bio-diesel per day from pork fat. 9 k" Q7 B* l g
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^% d; r9 d; q: r6. There are 99 nuclear reactors in various stages of planning and 8 b; ?; A" _1 k' V! x
construction around the world at this time. Several hundred more are - ?7 s( c7 z* l( Z: U. x
expected to be built in the future. Much of the energy they produce
& d# y; ~5 G5 wwill replace oil.
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) J. g4 D7 o/ {$ k7. Every company in any form of transportaion business is replacing E" P2 W0 g0 e( L7 V
older equipment such as trucks, airplanes, train engines, ships, etc.
' f; D7 a+ s3 a" s1 Nwith new more fuel efficient equipment. Airlines and railway companies
3 w3 H9 ~' l. oare experiencing 20% to 25% better fuel econony with the new
+ V* s7 _1 T& y9 S+ ?6 Jequipment.
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Airlines are flying airplanes with bio-fuel. They are finding the bio- 4 K0 O' g) h, K% z0 S
fuel is cleaner and performs better than jet fuel. ( V4 A* |. _$ k' X( v9 S
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1 K0 ^8 p0 D* ]# b) d$ V- k8. Cities and counties throughout the US are selling the rights to 4 U4 D! h9 y7 V
capture methane gas from landfills. This is a huge source of gas 4 t& T/ o1 ]. ]4 J* ]0 ~) J
available at very little cost or risk. The gas is displacing crude
) m/ m, K9 l% S' Z) joil.
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9 r0 ~7 h% z; B* w2 S7 s4 k$ K9. Coal is being transformed into a clean burning liquid fuel. The CO2 1 }- @7 w! Y6 v; Y z
produced as a byproduct is sold to oil companies for injection into / u. I3 m$ g9 Y1 z4 I
oil wells. 2 }3 ~. m& _7 B R; y; \. b" Z3 ^
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10. Solar, wind and ocean energy is displacing oil as an energy ! F& \: X4 }7 o0 Q% b1 E/ Z
source. Three new wind turbines are being erected every day in the US.
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7 I5 l' ^6 b/ g- H3 P- H c* ZEach of the above by itself will not make a large difference in the 3 \, I/ a' `' \4 j7 `/ A9 M
price of crude oil but the sum of all of them together is world
, h6 K/ w6 B `changing. The important thing is that OPEC no longer has the ability * f8 O. T F) Q% d( I' m
to control oil prices. % q" H7 P! U3 o: N) a, `% k& x( D2 c4 e; M
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With the above scenario, I still believe that there are under 6 U+ a' @& T; t4 h' q A* Q' U- S, b
performed OIL companies and probably they are yet to get the justified
. e) t% ^, E" x& k* |% g Hvalue .....
* X# w1 u( ]2 H! c9 w, W. h2 A5 LIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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+ _* h ?; X0 H) z( wThe above articles are from WSJ .............PUBLISHED ON 9TH JAN * e% Z9 \% U+ e5 C. X
2009 ... FYI-Only |
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